Even by laggard standard, fbm.fkli underperformed to peers. Overnight DJ support AM session while SH (+2%) support PM session. But not much of momentum today. Regional strong near +2% all day long. Europe +0.2% and DJ marginally lower, -15p, in late Asian hours.“SIME-factor” also played a –ve role ahead of its “reopening” tomorrow. SIME requested for suspension today and announced a RM960 million negative impact from its utility/energy division for 2H10. Fkli takes a 5p discount to fbm, meaning about 5% drop in SIME price tomorrow ??. Or just tech selling ?? after failure to clear 50.
1Q GDP/R% announcement ( after 5pm).
Fbm missed fresh year high mark but managed year best closing after a 5-day-15p wining streak. Fbm.fkl now back near 50, so whats next. – a fresh range, 50-70 or time for a pullback first, 30-50 ? Looks good for fresh range but maybe next week if fbm > 50.
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